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During the Divorce
This is the second and potentially the most intense phase of the divorce. It begins with the decision to move forward with divorce proceedings and will end at the time the decree and settlement are signed. At this point, other questions and issues rise to priority and need to be addressed: - Who should keep the house?
- How much will it cost to live post-divorce?
- How much will maintenance and/or child support be?
- How can retirement accounts be divided?
- How can a business be valued?
- What is the value of health care benefits?
Emotions can run high during this phase, and decisions based on emotions can result in much higher expenses, and the process could be drawn out unnecessarily. Darlys has an efficient and focused approach that will help you answer and work through those questions in an organized manner. This phase focuses on analyzing the divorce settlement through long-term projections.
Services
- Compile, organize and inventory financial assets and liabilities from statements and security certificates
- Assist in developing a complete Mandatory Case Disclosure, if needed
- Clarify and prioritize client’s financial short- and long-term goals and objectives
- Prepare a historical lifestyle analysis which includes current budget, and marital standard of living by establishing spending patterns through reviewing personal business checkbook registers, bank statements, credit card statements, brokerage statements, trust and partnership account statements and charitable giving
- Estimate extraordinary expenses for your children
- Uncover and disclose hidden assets and financial fraud by examining deferred salary income, uncollected bonus or commission, retirement plan abuse, expense account abuse, phony loans, cash narrative and in kind, personal and business tax returns
- Prepare detailed list of financial questions for formal and informal discovery
- Identify gaps in financial information
- Research of splits, reverse splits, name changes and buyouts of stocks, bonds and mutual funds to determine cost basis for pre-marital and marital assets
Benefits
- You gain a better understanding of your future financial picture
- You have better information from which to make decisions
- Help you to properly evaluate and negotiate settlement proposals based on your future goals
- Keep the focus on proposing fair and equitable settlements
- Promote a faster resolution on all financial matters for both spouses
- Minimize cost of divorce
- Increase your long term financial security by making sure you aren’t on a path to consume all of your assets earlier than expected
- Maximize your net worth by minimizing taxes through the efficient allocation of personal and real estate tax deductions
- Potentially lower legal and professional fees by expediting the settlement process by minimizing the need for expensive court procedures
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